The Federal Reserve, that private organization that determines interest rates and the availability of money in America, is going to be examined by a congressional committee whose chairman is worried it is setting the nation up “for a much larger crash in future.”
The plans for a review of Fed actions were announced today by U.S. Rep. Ron Paul, who heads the Domestic Monetary Policy and Technology Subcommittee.
The hearing will focus on the Fed’s recent practice of essentially loaning money to large banks and others for no interest at all.
“The Federal Reserve is relentless in pursuing a policy of zero interest rates, as manifest by their decision last week to engage in another round of quantitative easing and keep the federal funds rate at zero for another three years,” Paul said.
There are answers to your questions about the complicated Federal Reserve issue in “End the Fed,” “No More National Debt” and “The Case Against the Fed.”
Fed Chairman Ben Bernanke announced just days ago another round of money printing by the U.S. government.
The Fed’s third attempt at such a maneuver will involve having the government buy $40 billion in mortgage-backed securities per month, with no set end date.
- Ron Paul slams Fed Chairman Bernanke for pumping more money (redalertpolitics.com)
- How The Fed Affects Your Life And Money (helpwithdebtnow.com)
- Fed Prints Counterfeit Money (tarpon.wordpress.com)
- Ron Paul: Fed’s QE3 ‘detachment from reality’ (wnd.com)
- Defining Bernanke’s New Fed Target – Bloomberg (bloomberg.com)
- Ben Bernanke’s 5 messages on the economy (bizjournals.com)
- It’s Bernanke in Blunderland, warns Ron Paul (itmakessenseblog.com)
- Ben Bernanke: Fed buys far from economic cure-all (bostonherald.com)
- Ben ‘Buzz Lightyear’ Bernanke and the Fed’s New Challenge Ahead (minyanville.com)
- Ask the Advisor: What Does the Bernanke Speech Mean for Interest Rates? (savings.com)